The electric air taxi industry is witnessing significant turbulence, and Supernal, a startup under the Hyundai Group, is no exception. Following a series of challenges, including staff reductions and the recent exits of key executives, the company has decided to halt its aircraft development program. This pause comes at a critical juncture for Supernal, which has only recently begun testing its innovative technology.
Earlier this year, Supernal successfully conducted its first test flight of a technology demonstrator, marking a pivotal moment for the company. However, despite subsequent testing efforts, the startup was still striving to achieve its first untethered flight before the recent suspension. Originally, Supernal had ambitious plans to launch a commercial air taxi service by 2028, but these aspirations now hang in the balance.
Last week, the company confirmed the departure of its CEO, Jaiwon Shin, alongside CTO David McBride. These leadership changes have raised concerns about the future direction of Supernal, as insiders revealed that the company is currently reassessing its operational timeline. While the startup has not publicly commented on McBride’s exit, it has indicated that new leadership will be tasked with determining the best path forward.
The challenges faced by Supernal are reflective of broader issues within the electric air taxi sector, which is currently experiencing a mix of growth and setbacks. While some companies, such as those backed by major investors, are successfully securing funding and forming strategic partnerships, others have unfortunately declared bankruptcy, highlighting the volatility of this emerging market.
Founded in 2021, Supernal has already undergone significant changes, including layoffs earlier this summer and the closure of its Washington, D.C. headquarters. These moves were part of a broader strategy to streamline operations and focus on core objectives. As the company navigates this transition, David Rottblatt, the senior business development director, has stepped in as Interim COO to oversee daily operations.
In light of these developments, the Hyundai Group is committed to appointing new leadership with extensive experience in business operations. This strategic decision aims to enhance Urban Air Mobility (UAM) solutions and guide Supernal into its next growth phase. The company is determined to overcome these hurdles and continue its mission to revolutionize urban transportation.
Looking back, the initial test flight was a highly anticipated milestone, with the former CEO expressing confidence in the company’s technological capabilities. At a prominent industry event, he emphasized Supernal’s readiness to push the boundaries of innovation. However, with the recent leadership shakeup, the future of these ambitious plans remains uncertain.
This situation is not unique to Supernal; it mirrors challenges faced by other futuristic ventures under the Hyundai umbrella. In recent years, the conglomerate has had to reinforce its commitment to its autonomous vehicle startup, which also experienced significant restructuring and leadership changes. As the electric air taxi industry continues to evolve, all eyes will be on Supernal to see how it adapts and progresses in the coming months.